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Recent
- Pulse 2026-10-07AI Build-Out — Spotting the 2027 SlowdownEarnings season starts next week, and the big question is not whether AI is real but when the build-out stops speeding up. Forecasters already expect it: the six biggest cloud spenders are seen liftin
- Pulse 2026-10-06AI Hardware — Not One TradeWe split the AI trade into 36 equal-weight sectors across our three AI indices. Since 22 June, the day the chip stocks peaked, only 3 of the 24 hardware sectors are higher: the server makers (+21.8%),
- Pulse 2026-10-05AI Trade — The Suppliers' Suppliers Move FirstMicron and TSMC buy from suppliers who report first. In Taiwan, AI revenue at substrate, power, server and chip-design makers grew 45% to 78% a year in June–August; test maker Advantest is up 25.9% si
- Weekly Signal 2026-10-04Non-Tech Growth — Two Years of Dead Capital, and Now It Trades Like a Bond
- Pulse 2026-10-03Storage — Western Digital Sold the Day Before a 10% Drop, SanDisk DoubledOne book traded this week, and it made one swap. On Thursday AI Build-Out sold its whole Western Digital line, 20.01 shares at 445.29, for 8,910.77 dollars and a gain of 3,280.99. The same day it boug
- Pulse 2026-10-02Bonds — Same Rise, Different Reasons: US Growth vs. Europe's DebtLong-term rates are rising in the US and in Europe, but for different reasons. The US 10-year yield rose 45 basis points in 21 trading days to 5.24% because the economy runs hot: nominal growth of 6.3
- Pulse 2026-10-01Nasdaq — The Bad Season Is Over and a Record Is Close: Will the Midterm Rally Repeat?The six weeks that usually hurt stocks the most are behind us, and the Nasdaq 100 did not get hurt: it rose 4.2% in August and 3.2% in September and closed Wednesday at 30,408.50, just 1.05% below its
- Pulse 2026-09-30Micron — Tonight's Real Number Is the Memory Price, Not the QuarterMicron reports after the US close tonight. The quarter is known: the company guided about $50 billion in revenue and an 86% gross margin, and it beat the earnings estimate in all of its last ten repor
- Pulse 2026-09-29Long Bonds — The Break Is Global: Why Earnings Growth Now Has to Outrun RatesThe long-bond fund TLT closed Monday at 78.62, 0.4% above its 52-week low after five down sessions, and the 30-year yield closed at 5.561%. The 10-20 and 7-10 year funds sit at their lows too. The mov
- Pulse 2026-09-28Memory — Same Name as 2022, a Different Product: Why the AI Cycle Is Not the Old OneSeoul reopened after Chuseok and closed 2.37% lower; Samsung fell 4.73% and SK Hynix 4.57%, and the selling spread to flash storage and HBM suppliers while the tool makers held. Micron reports on Wedn
- Weekly Signal 2026-09-27Magnificent Seven — Without Tesla, the Six Are Beating the Market
- Pulse 2026-09-26Cloudflare — The Put Comes Back 30 Dollars Lower and Three Months LongerOne book traded this week, and it traded one line. The derivatives book sold a new Cloudflare put on Monday, the September-2027 250, for 3,510 dollars of premium. It replaces the June-2027 280 put tha
- Pulse 2026-09-25Magnificent Seven — The Megacaps Are Rising With the 10-Year YieldThe Roundhill Magnificent Seven fund MAGS made a record close of $72.97 on Monday and is up 5.5% in September, against 0.3% for the S&P 500 and a 3.8% fall for its equal-weight version. Over three mon
- Pulse 2026-09-24Rates — The 5-Year Hits 5%: Growth Story or Debt Story?Every US Treasury yield from three months to thirty years closed at a one-year high; the five-year touched 5% for the first time since 2007 and the ten-year closed at 5.114%, its highest since 2007; J
- Pulse 2026-09-23AI Pricing — Fable-Level Power at 60% Less, Weeks Before Anthropic's $2 Trillion IPOOn Tuesday Anthropic released Claude Opus 5.5 at $4 and $20 per million input and output tokens. By its own benchmarks it matches or beats Fable 5.1, which costs $10 and $50 - the same work for 60% le